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Assets and Liabilities Measured at Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2025
Assets and Liabilities Measured at Fair Value |
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025 | ​ | December 31, 2024 |
​ | ​ | ​ | ​ | ​ | Quoted prices | ​ | Significant | ​ | ​ | ​ | Quoted prices | ​ | Significant |
​ | ​ | ​ | ​ | ​ | in active | ​ | other | ​ | ​ | ​ | in active | ​ | other |
​ | ​ | ​ | ​ | ​ | markets for | ​ | observable | ​ | ​ | ​ | markets for | ​ | observable |
​ | ​ | ​ | ​ | ​ | identical assets | ​ | inputs | ​ | ​ | ​ | identical assets | ​ | inputs |
Description | ​ | Total | ​ | (Level 1) | ​ | (Level 2) | ​ | Total | ​ | (Level 1) | ​ | (Level 2) |
​ | ​ | amounts in millions |
Cash equivalents | ​ | $ | 76 | ​ | 76 | ​ | — | ​ | 89 | ​ | 89 | ​ | — | ​
Restricted cash equivalents | ​ | $ | 2 | ​ | 2 | ​ | — | ​ | 64 | ​ | 64 | ​ | — | ​
Exchangeable senior debentures | ​ | $ | 967 | ​ | — | ​ | 967 | ​ | 1,897 | ​ | — | ​ | 1,897 | ​
Schedule of realized and unrealized gains (losses) on financial instruments |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended |
​ | ​ | June 30, | ​ | June 30, |
​ | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024 |
​ | ​ | amounts in millions |
Exchangeable senior debentures (1) | ​ | $ | 76 | ​ | (17) | ​ | 39 | ​ | 59 | ​
​ | ​ | $ | 76 | ​ | (17) | ​ | 39 |  | 59 | ​
| (1) | The Company has elected to account for its exchangeable senior debentures using the fair value option. Changes in the fair value of the exchangeable senior debentures recognized in the condensed consolidated statements of operations are primarily due to market factors driven by changes in the fair value of the underlying shares into which the debt is exchangeable. The Company isolates the portion of the unrealized gain (loss) attributable to the change in the instrument specific credit risk and recognizes such amount in other comprehensive income. The change in the fair value of the exchangeable senior debentures attributable to changes in the instrument specific credit risk before tax were gains of $8 million and $5 million for the three months ended June 30, 2025 and 2024, respectively, and losses of $9 million and $15 million for the six months ended June 30, 2025 and 2024, respectively, net of the recognition of previously unrecognized gains and losses. During the three and six months ended June 30, 2025, the
|  | Company recognized $53 million of previously unrecognized gains related to the retirement of the 3.125% Debentures due 2054. The cumulative change was a gain of $20 million as of June 30, 2025, net of the recognition of previously unrecognized gains and losses.

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 102 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-102 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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